It looks like Arduino can't access your FTDI cable. Have you installed the drivers?Here's the drivers: http://www.ftdichip.com/Drivers/VCP.htmThen reopen Arduino.Then select the cable from Tools->Port. It is usually the bottom option.

If you have already done all of this, can you let me know more about your FTDI cable. Is it one you bought from me? If not, can you take a pic of it.